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Survey shows US oil and gas production slowing amidst high demand

RIYADH: Driven by a fall in crude and commodities pricing, oil and gas production in the US is decelerating at a time when demand is showing signs of recovery, research by the Federal Reserve Bank of Dallas has shown. The survey posted a score of zero for business activity growth in the second quarter of 2023 among 150 oil and gas groups in its region, the lowest since 2020 when oil prices crashed due to the pandemic, ultimately forcing operators to close rigs and cut headcounts. 
Business

Israel’s Tech Industry Continues to Struggle in 2023, According to State Agency

JERUSALEM: A slowdown in Israel’s technology sector has worsened in 2023, exacerbated by political turmoil, and the country may be detaching from broader trends that point to a global recovery, the state-backed Israel Innovation Authority said on Monday. High-tech has for a decade been the fastest growing sector in Israel and crucial for economic growth, accounting for 14 percent of jobs and almost a fifth of GDP — not to mention innovations coming out of Tel Aviv adopted around the world in cybersecurity, artificial intelligence and other fields.
Business

Boost for Makkah’s Hospitality Industry during Hajj Season

RIYADH: Hotels in Makkah have been running at full capacity as Muslims worldwide flocked to the holy city to perform Hajj after Saudi Arabia removed restrictions on the number and age of pilgrims, according to a top realtor in the city.   “The hotel occupancy rates in Makkah have reached 100 percent, such as the Novotel Thakher Makkah hotel. This substantial increase in occupancy comes in contrast to the 80 percent rate observed during the last Ramadan,” said Abdulaziz Al-Aboudi, the CEO of Thakher Development Co, a real estate firm focused on the hospitality sector.
sport

Tsitsipas clarifies Kyrgios’ ‘misinterpreted’ comments as ‘uneducated’

PARIS: Stefanos Tsitsipas on Saturday denied making racist comments over bitter rival Nick Kyrgios, claiming his remarks that the Australian firebrand played “uneducated” tennis have been “misinterpreted.” The world number five also told Netflix’s Break Point series that Kyrgios brought “an NBA basketball attitude” to tennis. The remarks were recorded at Wimbledon last year after the two men fought out a controversial third round tie in which Tsitsipas claimed Kyrgios should have been defaulted for hitting the ball into the crowd.
sport

Prince Fahd bin Jalawi elected president of Asian Triathlon Federation

The 31st General Assembly of the Asian Triathlon Confederation unanimously elected Prince Fahd bin Jalawi bin Abdulaziz bin Musaed as president for the next four years, the second Saudi sports figure to head the continental Olympic sports federation. The announcement came during the meeting of the General Assembly, which was held on June 23 in Tokyo in the presence of Eng. Ali Maqbool, president of the Saudi Triathlon Federation, and Joud Jamjoom, his deputy, along with 34 heads from Asia Triathlon’s national federations.
sport

Newcastle Chairman’s Dream: To Become the Top Club

LONDON: Newcastle United chairman Yasir Al-Rumayyan said on Friday he wants the Magpies to become the “number one” club, but made it clear that the ongoing development of the team will adhere to the sport’s financial fair-play rules. During an interview published on the club’s social media, the Saudi Public Investment Fund supremo said the board of directors now expects the club to be playing at the very top level of European football on a regular basis, and will build a “squad of stars.”
Business

Macron finalizes $100bn climate finance accord with leaders in France

PARIS: Wealthy nations finalized an overdue climate finance pledge to developing countries worth $100 billion on Friday and created a fund for biodiversity and the protection of forests, France’s president said, according to Reuters. Emmanuel Macron was speaking at a final panel of a summit in Paris where some 40 leaders, including two dozen from Africa, China’s prime minister and Brazil’s president had gathered to give impetus to a new global finance agenda.
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EU Red Sea mission defends 120 ships from Houthi attacks

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AL-MUKALLA, Yemen: The EU mission in the Red Sea, known as EUNAVFOR Aspides, said on Sunday that it had protected over 100 ships while sailing the critical trade channel and shot down more than a dozen Houthi missiles and drones in the last three months.

Iran’s Future After Raisi’s Death | TOME

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William Lai Ching-te sworn in as Taiwan’s new president

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Lai takes over as leader as Beijing aggressively asserts its claim over the self-governed island of 23 million people.

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If the High Court agrees to the extradition, only Europe's human rights court could block Assange's transfer to the US.

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Cambodia launches $36.6bn building drive, China and Japan vie for spoils

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Cambodian Prime Minister Hun Manet has unveiled a 174-project master plan that has attracted bids by rival powers.

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